CARO 2020 is a new format for issuing audit reports for statutory audits of companies under the Companies Act 2013. CARO 2020 has included additional reporting requirements in consultation with the National Financial Reporting Authority (NFRA). NFRA is an independent regulatory body for regulating the auditing and accounting profession in India. The objective of CARO…
Compliance with the tax regulations drafted by the government of India is mandatory for taxpayers in India. Such compliance also leads to compliance with GST return due dates Check the revised GST return due dates GSTR-1, GSTR-3B, GSTR-4, GSTR-5, GSTR-6, GSTR-9, and so on. This article focuses on GST updates and the compliance calendar for August…
Compliance is simply adhering to the laws and regulations established by various legal bodies. It can be difficult at times to follow each legislation and behave in accordance with it, but failing to do so may result in the loss of numerous chances. Simple instances of compliance include acquiring a local business licence and paying…
Under the Real Estate Regulatory and Development Act (RERA) which came into effect on May 1, 2017, real estate agents will be required to register to facilitate a transaction. All real estate agents are required to do RERA Registration. They should do so with the appropriate state regulatory authorities. This article focuses on the mandatory…
GST Investigation Wing issued Instruction No. 01/2022-23[GST-INV] dated 25 May 2022 on deposit of tax during the inspection, inspection, or investigation. This was issued in light of complaints and allegations of coercion by GST officials during the search for tax refunds. Table of content Short Glimpse Inspection and Search under GST Who can order search…
Tax arrears recovery from defaulters has always been a difficult area for tax authorities. Such recovery becomes even more difficult if the company/firm goes into receivership, is dissolved, lacks paying capacity, is untraceable, or the proprietor has died. In the indirect tax case, remember that the tax amount defaulted by business entities was already collected…
Along with being financially rewarding, a career as a Company Secretary also carries a high degree of job satisfaction. Whether a company is in the public or private sectors or an NGO, a company secretary is an essential member of the governance team. The Company Secretary (CS) is a key manager of the company. He…
Confused between what and how to choose between CA and CS? Let us discuss about what should we choose and which has better scope in the market. Two popular degrees in the Commerce discipline are Chartered Accountancy and Company Secretary. CA and CS are often chosen courses following 12 Commerce and are typically seen to…
Every GST Registered Taxpayer is required to file GST Returns on time and accurately. Otherwise, concealing transactions, providing false information, or making small mistakes may result in GST Returns being scrutinised. Scrutiny Notice will also have a significant influence on your business. As a result, if you get a Scrutiny of GST Returns Notice, you…
On November 1, 2017, the Ministry of Finance of India issued a press release on the Central Board of Direct Taxes (CBDT) rules regarding Transfer Pricing Documentation (TPD) in the master file and country-by-country (CbC) report. On 06/2017, the CBDT invited comments on the proposal to insert Rules 10DA, 10DB and Forms Nos. 3CEBA to…